The Euro lost ground against the US Dollar

money_euros

Pound Sterling

As a Hometrack report revealed that UK home prices increased by the most for three years in March the Pound was able to strengthen against the US Dollar. Sterling traded in the region of a month high against its American counterpart after home prices in England and Wales were shown to have gained by 0.3 per cent this month. The British currency was little changed against the Euro.

The Pound is presently trading against the Euro in the region of 1.1716 and is trading against the US Dollar in the region of 1.5227

US Dollar

The ‘Greenback’ advanced on the Yen this morning as investors turned from the Asian currency in the wake of Cyprus striking an agreement with EU finance ministers. The deal entitles the nation to a 10 billion Euro bailout. With the Bank of Japan’s highly anticipated policy meeting approaching the US Dollar could continue to gain on the Yen in the days ahead.

The US Dollar is presently trading against the Pound in the region of 0.6566 and is trading against the Euro in the region of 0.7695

Euro

After EU finance ministers approved a 10 billion Euro bailout package for struggling Cyprus the Euro experienced an initial rebound, recouping much of the losses sustained over the course of last week. However, the common currency lost ground against the US Dollar shortly afterwards as investors considered whether this action might be a case of too little too late.

The Euro is presently trading against the Pound in the region of 0.8539 and is trading against the US Dollar in the region of 1.2999

Australian Dollar

Over the weekend the ‘Aussie’ remained buoyed by last week’s positive increase in the Australian Conference Board Leading Index. The South Pacific currency was able to extend recent gains made against the US Dollar after European news strengthened risk appetite this morning, boosting higher yielding currencies like the Australian Dollar.

The Australian Dollar is presently trading against the Pound in the region of 0.6862, is trading against the Euro in the region of 0.8031 and is trading against the US Dollar in the region of 1.0467

New Zealand Dollar

The New Zealand Dollar continued to trade in the region of a month-high against its American counterpart after news of the resolution reached regarding the Cyprus situation was made public. Several pieces of economic data for New Zealand could impact the Kiwi in the days ahead, including this evenings trade balance figures

The New Zealand Dollar is presently trading against the Pound in the region of 0.5483, is trading against the Euro in the region of 0.6437 and is trading against the US Dollar in the region of 0.8353

Canadian Dollar

After dropping from a week high against the US Dollar as the uncertainty in Cyprus continued, the commodity driven ‘Loonie’ was able to climb after the small Eurozone member had a 10 billion Euro bailout package approved.

The Canadian Dollar is presently trading against the Pound in the region of 0.6429, is trading against the Euro in the region of 0.7531 and is trading against the US Dollar in the region of 0.9788

These exchange rates were correct as of 9:43 am

Richard Martin
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After working in business development for a major UK currency brokers for several years, Richard left Britain to help set up the company’s Australian office and now lives and works in Queensland; making the most of his new Down-Under lifestyle.